Commentary & Deal Flow

Final Books: In excess of €2.6bn (incl. €225m JLM)

Launched: 10yr: €800m @ OAT+25bp - Books in excess of €2.6bn (incl. €225m JLM)
Spread set at: 10yr: OAT+25bp - Books in excess of €2.1bn (incl. €225m JLM)
Guidance: 10yr: OAT+27a

• Issuer: Action Logement Services
• Ticker: ALSFR
• Issuer Ratings: Aa3 (negative) / A+ (stable) by Moody’s/Fitch
• ISIN: FR0014019WJ9
• Format: Senior, Unsecured, Reg S Bearer Dematerialized, Sustainable Bonds
• Coupon: Fixed, Annual, ACT/ACT ICMA, Unadjusted Following
• Tenor: 10yr
• Size: €800m
• Settlement Date: 16-Jul-26 (T+5)
• Maturity Date: 16-Jul-36
• Benchmark: FRTR 1.25% 25-May-36 / HR 114%
• Hedge Deadline: 13.40 CET / 12.40 UKT
• Denominations: €100k + €100k
• Documentation: Issuer’s Sustainable EMTN programme
• Listing: Luxembourg-EuroMTF & Paris-Euronext Growth
• Settlement: Euroclear France
• Governing Law: French
• Lead Managers: SG(B&D), Barclays, BNPP, Natixis, Natwest
• Target Market: Eligible Counterparties and Professional clients (all distribution channels)
• Advertisement: The final Prospectus, when published, will be available at https://www.bourse.lu/issuer/ActionLogeServ/97084
• Investor Presentation: https://groupe.actionlogement.fr/sites/default/files/2026-07/2026%2007%20-%20Pr%C3%A9sentation%20investisseurs%20-%20EN_VF.pdf